Question

Total stockholders’ equity of Davis Company increased by $42,250 between December 31, 2013, and December 31, 2014. During 2014 Davis acquired $15,000 cash from the issue of common stock. The company paid a $2,500 cash dividend to the stockholders during 2014. Total expenses during 2014 amounted to $18,000.

RequiredDetermine the amount of revenue that Davis reported on its 2014 income statement.